Islamic Development Bank Group ends annual meeting with $5B in deals

By Gokhan Ergocun

ALGIERS, Algeria (AA) - The Islamic Development Bank (IsDB) Group concluded its annual meetings in Algeria with more than 70 agreements worth nearly $5 billion with 26 member countries and regional institutions.

The agreements targeted critical sectors to deliver high-impact development solutions.

The four-day event under the theme, “Diversifying Economies, Enriching Lives,” drew more than 4,000 participants to Algiers from 89 countries and 70 institutions, fostering high-level discussions, strategic partnerships and innovative collaborations.

IsDB Group President Muhammad Al Jasser outlined in closing remarks the bank’s strategic framework for the coming decade for sustained economic growth and intergenerational prosperity, focusing on productivity, resilience, sustainability and inclusion.

He emphasized the IsDB Group’s role as a development bank guided by Islamic values of solidarity, justice and mutual trust.

The framework operates on three levels: supporting nationally-driven solutions at the country level, fostering knowledge and resource exchange among member countries, he noted.

Positioning the IsDB Group as a global hub for Islamic economics and finance, he stressed that the IsDB Group serves nearly one in four people worldwide.

Al Jasser also said the next annual meeting will be held in Azerbaijan.